8/3/2019 Research In Motion Appoints Thorsten Heins President and CEO

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8/3/2019 Research In Motion Appoints Thorsten Heins President and CEO

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excited about the companys future.

Mr. Heins said that RIM has a strong foundation on which to build. We have a strong balance sheet with approximately $1.5 billion in cash at the end of the lastquarter and negligible debt. We reported revenue of $5.2 billion in our last quarter, up 24% from the prior quarter, and a 35% year-to-year increase in the BlackBerry subscriber base, which is now over 75 million.

Mr. Heins said, BlackBerry 7 has been well received. We are very excited about PlayBook 2.0 and BlackBerry 10. The reception of our products at this years Consumer Electronics Show was encouraging.

He continued, RIM earned its reputation by focusing relentlessly on the customerand delivering unique mobile communications solutions. We intend to build on this heritage to expand BlackBerrys leadership position.

Mr. Heins said that RIM has grown quickly. As with any company that has grown asfast as we have, there have been inevitable growing pains, he said. We have learned from those challenges and, I believe, we have and will become a stronger compa

ny as a result.

Going forward, we will continue to focus both on short-term and long-term growth,strategic planning, a customer- and market-based product approach, and flawlessexecution. We are in the process of recruiting a new Chief Marketing Officer towork closely with our product and sales teams to deliver the most compelling products and services.

Barbara Stymiest, who formerly served as a member of Royal Bank of Canadas GroupExecutive and has been a member of RIMs Board since 2007, has been named the independent Board Chair. John Richardson, formerly Lead Director, will remain on theBoard. Prem Watsa, Chief Executive Officer of Fairfax Financial Holdings, alsowas named to the Board, expanding it to 11 members.

Speaking on behalf of the Board, Ms. Stymiest said: We believe that Thorsten isthe right executive to succeed Mike and Jim. He has 27 years of telecommunications experience, including four years at RIM in senior management positions. Asa Board, we have been impressed with his outstanding management skills, his leadership and his accomplishments within the company.

Ms. Stymiest also expressed the Boards respect and admiration for Messrs. Lazaridis and Balsillie, the company they built, and the steps they have taken to position RIM for the future.

They created RIM, nurtured it, and in the process not only built an iconic brand,but literally pioneered the smartphone industry, she said. It is Canadas largesttech company and one of the largest in the world.